We have created an Annual Profit Share calculator here so that you can work out approximately how much you would earn through this scheme, using Paradigm averages of both procuration fees and loan sizes,

For every case placed via Paradigm that we receive a retained fee for, we will pay half back to you so you will earn more per case. In rare circumstances where we pay out the full gross fee as a net fee or where the full minimum fee is paid out (e.g. Natwest you get the full £250), then you wouldn’t receive anything because we don’t get a retained fee.

This does not just apply to mortgages, you can also earn a retained fee via Equity Release cases, conveyancing, debt advice, wills and general insurance when placed via Paradigm and a retained fee is earned. With, for example, the debt advice and wills, they are referral services for your clients where you can pass the business on and you would get a fee.

The only thing we do not share a retained fee with is protection business. However, our net terms are market leading with the Providers and we generally take a 3% split which is less than other clubs.
The Profit Share year runs from May 1st to April 30th the following year. All retained fees received in this time contribute to the scheme. We process all of these and generate a statement which is audited and then issued usually around the last week in August or first week in September. Once we have issued a statement, we will then be able to pay out as soon as you confirm that you’re happy that the statement is correct and return a signed declaration form to this effect.
All Profit Share fees which are under £1000 are subject to a £15 admin fee. This fee is waived if you have accrued over £1000.
An Annual Profit Share statement is only automatically generated if you have accrued over £250, so if this has not been reached, we will not issue one to you unless requested. We can create one for you as a one off if you did want to claim the money.
There is a guide of how to get Paradigm added as a payment route for each of our Lenders here.
For more information, please call our offices on 03300 536061 with any questions and we will do our best to help.